Sei jumps nearly 10% as testnet deployment of Giga upgrade completed

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Sei jumps 9.68% on upgrade milestone

Highlights

Sei's successful Giga testnet deployment marks a major step in advancing network scalability for DeFi and decentralized exchanges.
Rapid development progress and adherence to the roadmap enhance both developer sentiment and prospective user activity on the platform.
SEI/USD shows strong short-term bullish momentum with a 79% probability of holding between $0.0565 and $0.0589, although overbought signals suggest caution against near-term pullbacks.

Scalability milestone boosts confidence as Giga upgrade completes

Sei has completed the testnet deployment of its Giga upgrade, marking a key technical milestone aimed at advancing scalability for DeFi and decentralized exchange applications, according to CryptoRank. This achievement demonstrates the Sei team's focus on network growth and their ability to meet development roadmaps, which in turn can enhance market and developer confidence. The successful upgrade positions the platform to attract new users and activity, supporting demand-side interest in the asset.

Buyer momentum intensifies as overbought signals caution

On the H1 chart, SEI/USD trades above the MA-20 at $0.0543 and the MA-50 at $0.0534, while remaining below the MA-200 at $0.0777 on the daily timeframe. The Ichimoku Kijun level at $0.0545 serves as immediate support. The Relative Strength Index (RSI) stands at 74.6, indicating strong buying momentum, while the Moving Average Convergence Divergence (MACD), Average Directional Index (ADX), and Awesome Oscillator are all in buy territory. Both Stochastic RSI and Commodity Channel Index (CCI) signal overbought conditions, and Bull/Bear Power confirms ongoing buyer dominance, collectively pointing to heightened upward momentum but warning of short-term exhaustion risk.

Volatility band narrows as breakout risk drives outlook

Over the next 13 trading days, SEI/USD is expected to fluctuate within a volatility band of $0.0565 to $0.0589. With a 79% probability assigned to further upside movement, a breakout above resistance could trigger an additional leg higher. Should selling pressure emerge, a move below immediate support would open the way for a near-term retracement.

Anton Kharitonov, expert at Traders Union, sees short-term momentum in SEI following the completed Giga testnet upgrade. He notes the price is supported by technicals, but warns that overbought signals limit further upside unless buying pressure persists. Kharitonov remains cautious, citing unresolved longer-term resistance and the potential for near-term retracement if immediate support fails. "Until SEI reclaims higher time-frame levels, I stay neutral and watch for a confirmed breakout or reversal," he says.

Earlier, analysts noted that Sei was exhibiting short-term positive momentum despite lingering concerns about weak underlying fundamentals and downside risk. The Giga upgrade testnet success and current strong buying signals indicate a shift toward renewed market optimism, making sustained closes above $0.0589 a potential catalyst for further upside, while traders should remain alert to overbought exhaustion signals.

Source of Data: SEI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.